Mauricio Di Bartolomeo, co-founder and partner of Bitcoin (BTC) lending platform Ledn, stressed in an interview with CriptoNoticias that despite the financial situation facing Venezuelans, they are on par with anyone else in the world when it comes to requesting loans through digital currencies.
This statement is due to the fact that Ledn offers loans in dollars but uses Bitcoin as collateral asset. So if a user needs a $500 loan but doesn’t want to sell his BTC; You can request the above amounts using Bitcoin as collateral.. In this example, the collateral is $1,000.
“If you are in Venezuela, you can get a loan in Redon and receive the same conditions as someone in Madrid, someone in Lisbon, someone in the United States,” the Venezuelan executive explained, while asking the following question:
“Has there ever been a time in Venezuela’s history when loans were available on such comparable terms? That never existed. Many people in Venezuela are using Ledn and are receiving loans. All those who responsibly used this type of financing are benefiting.”
reality of Venezuela has almost no financing.this is due to inflation and the devaluation of the bolivar. Local banks have had to explore new services in order to adapt to the current era of stricter regulations and public regulations.
And that’s where Di Bartolomeo adds context, as oil-producing countries have historically been in financial trouble for years.
Money and banks have failed us, historically they have always failed us, and we saw an opportunity (with Bitcoin) to rebuild it, and it’s incredible to see how many people understood that opportunity and jumped on that opportunity.
Mauricio Di Bartolomeo, co-founder of Ledn.
For Bitcoiners, the problem is that there is currently no bank financing in Venezuela It has nothing to do with the debt itself.. He believes the problem lies with the bolivar currency.
“You were using a currency (the bolivar), and it failed. The lending practices were not failed. Everyone has been doing this since the days of Mesopotamia, but when you take loans from a hyperinflationary currency, you inflict great damage on the issuer, you destroy the issuer. When you destroy the issuer, the lending dries up.”
Di Bartolomeo reiterated that Bitcoin is the best collateral asset in the world and that Venezuelans can use Bitcoin to obtain loans from any global company.
For services provided by Ledn, the minimum amount for loan requests is $500. These will be sent to your bank account in USD or via USDC once your request is approved. The standard loan term is 12 months. A 2% administrative fee will be charged at the time of loan execution. There are also no penalties for early payment.
(Tag translation) Bitcoin (BTC)
